Startup Business Insurance

Startup Business Insurance

Tailored for You

When launching a startup business there are so many tasks at hand it can be hard to know where to begin. Whether you’re a Mainer or Californian, one thing can not be forgotten when establishing yourself in startup culture—startup business insurance. Undoubtedly there are business insurance coverage plans you will need to consider as brand new startup owner. While most established businesses will need most general insurances, as a fledgling company you may only require a few depending on your specific business set up and stipulations.

Here is a helpful list of some insurances you may want to consider when first kicking off your startup business:

General Liability Insurance

No matter how big or small the size of your company you will greatly benefit from investing in General Liability insurance. By purchasing General Liability insurance for your startup you will be protecting yourself from an individual or company’s claim at injury. If your startup was uninsured those injury claims could run you a fortune!

Property Insurance

If your startup business has a physical property then you should be investing in Property insurance. There are an abundant amount of unknown mishaps that can happen at the workplace including lost inventory, damage, fires, and floods. If you purchase Property insurance through our team at Lotfey Dennett we will tailor your plan to meet your specific risk concerns.

Workers Compensation

As your startup business develops, you will also be expanding your team. Worker’s Compensation insurance protects all of your employee expenses. In the event that one of your team members is ill or hurt on the job—you will be protected.

Business Income Insurance

Spearheading a startup business comes with a fair share of risks. However, that doesn’t mean you shouldn’t take them! By purchasing Business Income insurance you will be securing yourself against the loss of income your startup business might take if it suffers from an unforeseeable disaster. At Lotfey Dennett we help our clients take the proper precautions to best prepare for all of life’s unknown obstacles.

Cyber Liability Insurance

Startup business jump through enough hoops trying to grow a steady business. A network or security hack is the last thing a startup business owner needs. Protecting yourself, and your customers, from a security breach is increasingly important in 2016. Cyber liability insurance is a must for your startup because it will cover your business if a data breach occurs and customer information, like credit card and Social Security info, is stolen. On top of that, cyber liability will cover the costs associated with data breaches, including: credit monitoring, costs to defend claims by state regulators, fines and penalties, notification costs and loss resulting from identity theft. At Lotfey Dennett, we take security seriously, no matter how big or small your business.